Novatel Wireless Inc., a San Diego maker of telecom equipment and software, reported a 2012 fourth quarter net loss of $14.9 million, compared with a net loss of $3.4 million in the like quarter of 2011.
Revenue for the quarter was $70.7 million, compared to $109.8 million in the like quarter of 2011.
For the full year, Novatel reported a net loss of $89.3 million, compared with a net loss of $24.9 million for all of 2011.
Revenue last year came in at $344.3 million compared with $402.9 million for all of 2011.
CEO Peter Leparulo said Novatel made progress on initiatives in the fourth quarter that positioned the company for a stronger year. He anticipates “significant sequential revenue growth and bottom line improvement in the first quarter.”
The firm is forecasting first quarter revenue in a range of $83 million to $93 million, and an operating loss per share of 19 cents to 7 cents.
— SDBJ Staff Report